One of the mysteries of the English language finally explained.
An exchange rate between two currencies computed by reference to a third currency, usually the US dollar.
- ‘He says the bank is worried about inflation, but must also watch the climbing dollar, especially the cross-rate against the Australian.’
- ‘I note that already the cross-rate against Australia, which is the most important rate for manufacturing exporters, is starting to come back as the Australian dollar recovers from the effects of droughts and fire.’
- ‘For example, most people in Hong Kong, and now in China, can reel off with considerable ease the best deposit accounts, currency cross-rates, and even share prices of popular companies.’
- ‘Hence, our own forecast of a dollar-per-euro cross-rate of 1.40 within the next two years is one in which we actually see more downside risks for the dollar than upside ones.’
- ‘He said modelling had looked at factors such as revenue growth, yield and margins in a range of different scenarios in foreign exchange cross-rates, fuel price and demand.’
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